All Forum Posts by: Account Closed

@Dave Kapsack I would suggest you to consider Pittsburgh as a contender in your market search. With purchase prices low and rent prices higher in comparison to surrounding markets (Cleveland, Philly, DC and NYC). as @Jeremy Taggart said, the concentration is held between 2-4 units. I see places like Philly with Cap rates around the 4-6% range, and comparatively to Pittsburgh, the average is higher at 8-10%.

Usually an issue with the property on the market for so long is either the rent is too high or you are not marketing to the right clients. I'd be more than happy to have a conversation with you in regards to what me and my brokerage could do for you!

What is immediately located around these two properties? If they are near some big jobs, start with marketing them to the HR department of these places.

Hello Elphine, I am currently looking to expand my investor clientele. I'll send a DM. 

I live in a house that was built in 1846. In the Pittsburgh area market, as Josh had mentioned, most structures in Pittsburgh were built in the early/mid 1900's and that leads into why investing here is a no-brainer. You can easily buy low, and rent high in comparison to other cities. Granted with older homes, typically meaning more issues, but that does not mean that they are to be overlooked. When looking at these older homes, look at the structure rather than the finishings. Look for caving walls, water damage, old wiring, old HVAC systems (typically boilers in this area/age range) and a solid roof. 

To better protect yourself, I would definitely recommend starting an LLC in PA to own the property. I've seen one too many things turn messy without the protections of an LLC.

Having lived in a farmhouse in Armstrong County, PA that was built in 1846, I have definitely experienced some form of paranormal activity. I have seen multiple things happen that are unexplainable. I have seen doors swing wide open and shadowy-figures emerging from the darkness. I've seen lights flicker on and off without anyone being in the house. You trick yourself into believing that the old house just has some quirks that need some love, but then after a full rehab, the electrical concerns were reprimanded. The flickering lights still seem to happen to this day. I can think of one time when I was about 12 years old, standing in my childhood bedroom, with the light flicking on in the middle of the night and a dramatic temperature change. I felt like I was frozen in time watching the figure of the man slip away into the hallway as if I hadn't seen him. 

There are definitely areas of the city that can yield you a pretty penny in return. You just have to be open to looking at neighborhoods within the entire Pittsburgh Metro. I work primarily with investors and have had pretty good success with my clients in neighborhoods like Carrick, Crafton, Glenfield, and neighborhoods like that. If you need any assistance, I would be glad to help you in any way that I can!

@Harry Brodsky 

You certainly can live out of state and still maintain an LLC in Pennsylvania. You do not need to have a physical address within the state of Pennsylvania either. If you have any other questions that I can answer for you, send me a message!

@Ryan Alexander

It seems that a lot of lenders have sinched their readiness to hand over money. Primary Mortgage loans seem to be favored right now over commercial investment loans. 

Hello All!

As this pandemic seems to linger here in the United States, I've started to run into the problem of banks closing departments that were previously financing investment properties, that have shut down these departments until further notice. For example, PNC Bank in Pittsburgh is no longer financing commercial investment loans or healthcare startup lending. 

Has anyone else ran into this problem?